The use of personal floatation devices such as inflatable life rafts or surning rafts is a popular recreational pastime. In conjunction with the use thereof, it is frequently desired to carry provisions for food or drink maintained at a temperature below or above ambient. It is known to use insulated coolers that are removably attached to the raft or other floatation device. However, coolers heretofore known are generally unstable in the water. Such coolers will frequently take on water, particularly in rough water, which leaks into the interior of the cooler, and may even tip over and lose their contents.
Accordingly, there is a need for a floating cooler which is self-stabilizing even in rough water and which retains its contents in an upright position while maintaining a cool interior temperature.